FTI Scoops Up Crumbs Bankruptcy PR

Tue., Jul. 29, 2014

The New York-based chain, which has shut down three years after its initial public offering, is planning an Aug. 21 bankruptcy auction that would put it under the control of an investor group that includes Fischer Enterprises, owner of Dippin' Dots and other brands, and turnaround specialist and CNBC reality show host Marcus Lemonis.

“We are confident that Crumbs is taking the right steps to protect the brand and position the company for long-term success," said Edward Slezak, the general counsel and board member who took over as interim CEO in December.

New York-based FTI senior managing director Leigh Parrish, who heads the firm's retail and consumer unit in the Americas, is speaking for Crumbs.

Crumbs, which lost $18.2M last year, had 48 stores, some of which could be re-opened by the Lemonis-Fischer venture.